Square Enix is going through one of its most complicated moments, as some of its most important releases have not met financial expectations, it has had to cancel several projects and, in addition, it has registered losses in the millions of dollars.
Its executives know that the current strategy is not working, so they decided to change course and announce a new plan. Their goal is to recover and make Square Enix be in force in the long and short term, so they will make some adjustments, such as betting big on multiplatform releases instead of focusing on exclusive games.
Square Enix to focus on cross-platform games
Final Fantasy XVI, Final Fantasy VII Rebirth and FOAMSTAR have all failed to meet Square Enix's expectations for one reason or another, but all of these games have one thing in common: they are PlayStation exclusives. The company wants this to change in the next few years, so it presented a plan called “Square Enix Reboot and Wake Up: 3 Years of Laying the Foundation for Long-Term Growth”, which focuses on 4 pillars.
The first is a strategy shift to a multiplatform model. Its goal is to have more opportunities to generate revenue and offer its franchises to more people. It will do its best to bring its most popular franchises and AAA titles to Nintendo, Xbox, PlayStation and PC systems.
“For HD titles, the Group will aggressively pursue a multiplatform strategy that includes Nintendo platforms, PlayStation, Xbox, and PCs. Especially, in regards to major franchises and AAA titles including catalog titles, it will build an environment where more customers can enjoy our titles”, stated the studio.
It also hopes to improve its productivity by optimizing its development processes. To do so, it will focus on quality rather than quantity. On the other hand, the company announced the reconstruction of its overseas business divisions. It plans to improve its business infrastructure and introduce organizational policies in Japan.
Finally, Square Enix will seek a balance between return for shareholders and investment for growth. The plan will span from the fiscal year ending March 31, 2025 and extend through the fiscal year ending March 31, 2027.
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